Samsung to invest additional Rs 350 crore in India by 2015
Samsung Electronics India plans to make an additional investment of Rs 350 crore in manufacturing and research & development (R&D) by 2015, said BD Park, president and CEO (south west Asia), Samsung.
Samsung has so far invested $400 million in India and targets to cross $10 billion mark in sales by fiscal year 2015.
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“We are committed to the Indian market and are willing to bring in the necessary investments to support and grow our business," said Park, adding that the company expects to close the current year with a 25% growth. The company had sales of around Rs 20,000 crore in 2011.
“We retained our market leadership in flat panel televisions, grew our Note PC business and established our market leadership in Smartphones during the current year," Park said.
Samsung plans to boost presence in the smart TV category during 2012, and it expects mobile business to “see huge thrust". “Samsung plans to lead the convergence era with smart technology products and consolidate its leadership in segments where it is leading and establish in others. Flat panel TVs, smart TVs, ultrabooks, tablets and mobiles are seen to be growth drivers for the company," said Park.
The South Korean electronics giant had last month a 75-inch smart TV priced at Rs 7.5 lakh and has said that it aimed to sell about 1,000 units over the next 12 months. The company has seen “healthy consumer interest in the 40-inch and above flat panel TV (FPTV) segment" and expect this to be a major growth driver next year.
Samsung currently sells 26 models of flat panel TVs in the 40-inch and above screen segment.
The company has earlier this year reportedly said that it had targeted a 35% market share in the flat panel TV business that is expected to touch 500,000 units in the current year.
According to Park, the replacement market, which is growing fast even in smaller tier-II and tier-III cities, would also contribute substantially to the consumer durable companies in the recent years. “We see a lot of replacement demand coming up in the smaller markets where CRT consumers are upgrading to Flat Panel TVs, mobile consumers are upgrading to more feature rich mobile phones and affordable smart phones etc. Thus, to reach out to consumers in these markets, we are now offering them products that are customized to better meet their requirements," he added.